2012 Chicago Auto Show an Indicator of Growing Economy

CHICAGO--Feb.
22, 2012: If the 10-day run of the 2012
Chicago Auto Show is any indication of where the nation's immediate
economic future is heading, Americans can look for a uptick led by the auto
sector.

"We felt a surge even before we opened the Chicago show's doors," said Dave Sloan, general manager of the annual show
held at the mammoth McCormick Place on Chicago's lakefront. "Our pre-show sales were in
excess of 200,000 tickets. That led us to believe that we were going to be
in for a good year for both our exhibitors and our dealers once the show
closed its doors."

"The region was blessed with cooperative weather, too, which helped
drive the nation's largest auto show to its most successful finish since
2008," said Sloan. "The first weekend of our show generally leaves our area
franchised new-car dealer showrooms a bit light, but by the second weekend,
consumers are making decisions on where they're going to spend their money,
and showroom traffic and purchases spike."

After the 2011 show, consumers took advantage of the buzz created by the
show and subsequently hit dealerships with a fury that took dealers by
surprise. Many of them reported triple-digit sales for the closing weekend
of the month, with some customers taking advantage of special auto show
bonuses that are truly "found money" incentives available during and
immediately following the event. 2012 seems to be following the same
model.

"There were other factors making the show a success," continued Sloan.
"With more than five miles of truss lighting hanging over the show floor it
literally shined. Spectacular exhibits packed with new products left
consumers primed for a return to the market. Interactive engagement showed
off new technology and taught everyone that the recent recession didn't
slow down product research and development."

Aging Fleet, Gas Prices, and Readiness of the Industry

"The age of the nation's fleet is now older than it has ever
been--nearly 12 years," said Steve
Foley Jr., chairman of the 2012 Chicago Auto Show. "Increasingly,
people not only desire new cars, but have a need to replace what's in their
garage.

Even rising fuel prices may not slow demand. For consumers who have been
putting off a new-car purchase, this may be the incentive to spur their
decision.

"High prices at the pump usually hurt new-vehicle sales," said Foley.
"But in an odd twist, the industry may actually be poised to benefit from
the situation."

Show-goers and consumers nationally are finding that the auto industry
has never offered a broader selection of fuel-efficient internal combustion
engines, hybrids, plug-in hybrids and all-electric vehicles.

"Old technology in the driveway and high prices at the corner gas
station could send customers running to the showrooms for more
fuel-efficient vehicles," said Foley.

Chicago: Where the Consumer Votes

For the seventh straight year, thousands of consumer voters proclaimed
their favorites in five categories in the Chicago Auto Show's "Best of
Show" balloting.

In voting conducted over the 10-day public run of the nation's biggest
auto show, winners in the contest's five categories were:

"Best of Show voting has become a benchmark measure, and winning in any
category is quite meaningful for our manufacturers and exhibitors," said
show chairman Foley. "In a year where attendance increased yet again and we
boasted four indoor test tracks and five outdoor test drives, consumers had
a better chance than ever to weigh the competitors and let their voice be
heard."

"The Chicago show doesn't offer an
indicator of the local auto market alone," concluded Foley. "It foretells
the return of the entire economy. If you look back at just about any
recession our country has experienced since WWII, it was the automotive
sector that led it back. Let's hope that the trend continues."

About The Chicago Automobile Trade AssociationFounded in 1904, the Chicago Automobile Trade Association is the
nation's oldest and largest metropolitan dealer organization. It is
comprised of about 400 franchised new-car dealers and an additional 150
allied members. The group's dealer members employ about 19,000 people in
the metropolitan area. The association has produced the world famous
Chicago Auto Show since 1935. For more information, visit
Chicago Auto Show.